Class A Flex
For Sale
Contact for pricing
Innovation Ln, Fort Myers, FL 33913
Modern flex space in a prime Fort Myers location.
Property Size41,888 SF
Price / SF$325
Days on Market658
Property Features for Innovation Ln
General Information
Standard status
Active
Size
41,888 SF
Class
A
Property subtype
Industrial, Special Purpose
Lease Type
NNN
Building Details
Year Built
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
Bartley Realty
(239) 784-3283
Listed By:
David R. Bartley Sr. · License #FL 3249994
Source:
Crexi
Added: Nov 10, 2024
Changed: Aug 23
Last Checked: Aug 28 at 9:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bartley Realty
Investment Insights
Based on property information with market context.
Innovation at ITEC III presents a Class A flex space development designed to elevate corporate presence in Fort Myers. The property is strategically located just 1.7 miles east of I-75 on Alico Rd, providing convenient access for employees, clients, and distribution. Units range from 1,760 to 41,888 square feet, adaptable to accommodate expanding business needs. The spaces feature fully air-conditioned environments, advanced fire protection systems, energy-saving LED lighting, convenient roll-up doors, high ceilings with mezzanine potential, and reliable, high-capacity power to support demanding business operations. Flexible financing options are available to own a corporate headquarters in a prime Fort Myers location. This property is intended for use as a corporate headquarters and offers potential for business expansion.
Key Highlights
- Prime Fort Myers location: Just 1.7 miles east of I‑75 on Alico Rd for easy access.
- Flexible spaces: Units range from 1,760 to 41,888 square feet, adaptable to various business needs.
- Ownership opportunities: Benefit from flexible financing options to own your corporate headquarters.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$458,234
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,164,680
$9.2M
Cap Rate 7%
$6,546,200
$6.5M
Cap Rate 9%
$5,091,489
$5.1M
Market Conditions
NOI Build-Up for 41,888 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$754.0K $18.00/SF
− Vacancy
−$49.0K −$1.17/SF
EGI
$705.0K $16.83/SF
− OpEx
−$246.7K −$5.89/SF
NOI
$458.2K $10.94/SF
Area
Lee County, FL
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,164,680
Cap Rate 7%
$6,546,200
Cap Rate 9%
$5,091,489
Alternative Uses
Best Use
Flex RnD
$6.55M
$5.73M – $7.64M
NOI $458,234 @ 7.0% cap · market cap 3.37%
Second Best
Industrial
$5.46M
$4.78M – $6.37M
NOI $382,383 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$13.18M
$11.54M – $15.38M
NOI $922,876 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33913, FL
28,216
Population
16,026
Households
1.8
Avg Household Size
54
Median Age
47%
College-Educated
95%
High-School Grad
101.0 sq mi
ZIP Area
279
Density / Sq Mi
$106,925
Median Household Income
$54,341
Median Earnings
$1,914
Median Rent
$439,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Modern flex space in a prime Fort Myers location.
Where is this flex space located?
The property is located at Innovation Ln Fort Myers, FL.
What is the asking price?
The asking price for this property is $13,613,600.
What are key features of this property?
This property features: Prime Fort Myers location: Just 1.7 miles east of I‑75 on Alico Rd for easy access.; Flexible spaces: Units range from 1,760 to 41,888 square feet, adaptable to various business needs.; Ownership opportunities: Benefit from flexible financing options to own your corporate headquarters.
